April 9, 2015

ES Ranges update

  • ES is ranging in most of the time frames.
  • Hourly range must resolve for the next bigger move to happen.

EURUSD Chart update

  • EURUSD Weakness continues at 50 Day SMA.
  • 4 Hour chart shows bearish price action.
  • One hour chart is trending down below the cloud.

Apple chart update

  • Apple testing 50 day SMA. Weakness only if price starts to trade below 50 Day SMA.
  • 2nd chart shows price moving sideways in daily time frame
  • Weekly chart shows the primary trend is still in force. This will weaken only if stock moves below 121 levels.

GOLD Technical Analysis

  • Gold 4 Hour chart at the apex of triangle pattern. Price is testing the rising support line.
  • Daily chart continues to show weakness from 200 SMA and 50% Fib level.
  • 1180 levels are crucial. Closing below this level will further weaken gold bulls. Bulls need a close above 200 SMA to extend the bounce in daily chart.